MFREE 112 Full Episode with Christine Healey: Is Pre‑IPO Investing the Next Frontier for Passive Wealth Builders?

Unlocking Pre-IPO Investment Opportunities with Christine Healey

In this episode of the Multifamily Real Estate Experiment Podcast, hosts dive deep into the world of pre-IPO investments with Christine Healey, the founder of AI Pre IPO. The discussion revolves around accessing investment opportunities in major tech companies like SpaceX and OpenAI, which are traditionally reserved for venture capitalists and institutional investors. Christine shares her extensive experience, emphasizing how individual accredited investors can use special purpose vehicles (SPVs) to pool their capital and gain entry into these high-growth companies. She also explains the differences between real estate investments and pre-IPO investments, including the unique risks, rewards, and timelines involved. Christine offers key insights into the mechanics, negotiation strategies, and best practices for investors looking to diversify their portfolios with private tech stocks. Join the hosts and Christine as they explore how to own a piece of America through strategic investments in private companies.

00:00 Introduction to Multifamily Real Estate Experiment Podcast

01:13 Guest Introduction: Christine Healey and AI Pre IPO

03:13 Christine's Background and Industry Insights

05:02 Accessing High-Value Deals: SPVs and Syndication

07:52 Understanding Pricing and Negotiation in Private Markets

18:45 Comparing Real Estate and Pre-IPO Investments

21:37 Exit Strategies and Holding Periods for Private Investments

22:55 Navigating Stock Sales with a Broker

23:37 Understanding Tax Benefits for Investors

25:01 Investing in Innovative Companies

26:09 Steps for Accredited Investors to Get Started

29:52 Breaking Down the Costs and Fees

38:42 The Importance of Personalized Service

41:06 Final Thoughts and Contact Information

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Transcript

Track 1: 0:00

Wah Gwan all you multifamily enthusiast. Welcome to another episode of the Multifamily Real Estate Experiment Podcast. This show is about helping you own more of America, or at least get in the mindset of how to do that, how to own more of America so you can generate the freedoms in life that you so appreciated. The financial freedom, the time freedom, the location freedom, the freedom of purpose and freedom of relationship. And that comes in different shapes and sizes. And that can happen at any point in your life, towards the end of your life, there comes a point in time when you realize that. Ownership is really the direction to go and that working a 9 to 5 is a part of building your foundation. But what do you do with that money and how do you generate knowledge to grow the money that you work hard for? And also that the money you work hard for can also work harder than you work. To answer that question today, like How do you get access? And a lot of us, you've been told that there's other ways to own a piece of America, your future. And you can own piece of companies like SpaceX, open AI, stripes, you know, before they actually even go public. And a lot of us, think those things are impossible. so today's guest, Christine Healey, the founder of ai pre IPO, has closed over 600 million. And don't let the numbers fool you, right? 600 million in pre IPO transaction. She's managed portfolio like Disney, tech 100, you know, and, on the New York Stock Exchange. She was employee number 23 at, forge Global. these are big companies that a lot of us are familiar with. And the reason why I said don't let the numbers fool you, because a lot of times we hear these big numbers and you think that, you know, you cannot be on that level. However, we talking about small pieces of. Watermelon's here. Not a whole grape, none of us. We trying to own Apple. We want to own a piece of it. None of us trying to own SpaceX entirely, but if we own a piece of it, then we can get to own a piece of what we call America, right? So we can get towards our freedoms. Christine, Welcome to our show today. Thank you so much for having me. Great to be here. Yes, ma'am. Now, before we get into the meat and potato, I usually ask about a real estate question, but what I really want to ask is, do you have a business quote or mantra that drives you? You know, there's a few, there's the devil's in the details, or the deal is in the details. time kills deals. A lot of great opportunities require conviction and speed. So you gotta do your prep and understand what you're looking for ahead of time. it's a dynamic market, but those are ones that, I see in my day to day. Just gotta get into the details and you gotta be convicted in, what you're executing. This is outstanding. Now, before we started recording, we talked briefly about, some of the things that you do. However, I don't think we really touched too much into, how you got into this business, why this is so important to you, and, the value that you bring to, for example, our audience who are you. We aspiring to reach out to military veterans who accredit investors who own a small business, the idea is to give people knowledge to help them own more of America. How do you fit into that picture, Christine? Well, I started in traditional finance and investment banking in 2015. I learned a lot. I put in a lot of, midnight oil. in 2018 I started working in this niche industry, helping people trade private tech stocks. I've been doing it ever since, day in and day out, a hundred percent focused on this niche industry. What I have the pleasure of bringing your viewers and listeners today is an industry and a type of investment. That has historically been kept, mostly to rich venture capitalists, these professional investors, these billionaires in their family offices, and something that is still very new and in some cases unfamiliar to everyday investors. Even professionals, small business owners that have worked hard, to accumulate some wealth or get a strong income. they're looking for what's next and what's next. Doesn't always include these high tech investments like SpaceX, OpenAI, Stripe, because you can't just go on your brokerage app and buy them the next day, like you can. A normal public stock, So this world of private stocks is really quite elusive. It can be confusing. it's hard to get started when people like yourself, people on active duty or people with these professional careers, small business owners are very consumed by the hours of what they're doing every day. So how do you learn a totally new type of investing? that's where I come in my pleasure is to. Provide a concierge access service to pre IPO so people can benefit from my years of experience, my huge Rolodex, and I can make investing in some of these private companies as simple as possible for them. Thank you so much for that. Now let's dive into it then. I really want to be mindful of your time'cause the rate which you moving nowadays, right? should keep you pretty busy. Now I wanna talk about, how can regular credit investor access. Deals like SpaceX, without having the$10 million minimum. Right. Can you walk us through the mechanics of that and maybe touch a little bit on, something about, SPV and the secondary market, and how does your concierge model make these accessible to smaller check sizes? Absolutely, from chatting with my friends in the real estate space, real estate syndication, there are some parallels. So the idea being if you can pull your capital with other investors in a similar situation you might be able through a syndication structure or a special purpose vehicle to access more blocks sellers or more projects. Than you would if you were just coming in with your personal check size. So that's something that's very common in this pre IPO trading industry where, a seller or a fund manager is pooling together individual accredited investors that together can reach a larger size and maybe be matched with a larger seller. you join a fund with a lot of investors in it. Together you can look at a$5 million block or a$10 million block, coming from a venture capitalist or some interesting source. So there's power in numbers for sure. Maybe that's another quote as well, the power in numbers when it comes to syndicating and accessing these deals. So when you could look at structures like special purpose vehicles, your access can expand quite a lot. But with that, you have to be very careful in terms of diligencing that structure if you're not directly on the ledger and the cap table of that tech company. You wanna have that layer of understanding of who you're getting into business with. How does this vehicle actually work? Like anything else, the devil's in the details. If you get into a reliable structure, it can really expand the different deals you can look at. So that's something that I never really considered, because we use that structure for our syndication. In fact, we are wrapping up a deal right now, which by the time this podcast is published, this deal should be closed. we are using an SPV, via the fund model. myself and another partner raise capital, we pull over, Investors together into this vehicle and that vehicle invest as one passive investor into the target assets. So, I've never really thought about that outside of the real estate game. We're looking at some oil and gas, some in debt instrument fund, but all these are surrounding real estate. I never thought about how do we get that into company like, open ai because that's something that, that, that I've always interested me. And SpaceX, we, understand the magnitude of that company and how much they have grown and the impact they're gonna have on the future. So I think a lot of us would want a piece of that, but don't quite understand how to do that. So thank you for bringing, to our attention that we can actually use the SPV, to invest in those. But to your point, it gets very nuanced, And we gotta understand where we fall on the capital table in relations to one, inside the fund, and also in the company we invest in. One of the things that you talk about sometimes is, the pricing trap, right? And why most IPO investors overpay, can you break that down for us a little bit? And what? Negotiation tactics save your client over 20% and, maybe go into a case study. I have to be careful regulatory wise around case studies. Understood. They're very restricted in my industry. because the outcomes can be so different. You can have companies that, maybe 10 x, 15 x these crazy success stories. I had a client the other day, who was invested in a company that's valuation has shot up 15 x in a short amount of time. Wow. you know, but that's not guaranteed. Performance is very variable. Gotcha. You also have companies like FTX, which were actively traded at one point on the private market, and were, close to 40 billion in valuation. Completely collapsed as a company. And you have cases in between, where performance plateaus after a while. The returns are so variable in this industry, that as I say, you gotta have conviction in your view is of these companies. Which ones you think are gonna out. Form. and B, it's very hard to quote a specific case study because I can't lead you into thinking you're gonna get a certain IRR or a certain return because it's so much more variable than if we are investing in bonds or some other type of security. In a nutshell, what's interesting about pricing and what's maybe vulnerable about pricing in this asset class is that pricing is really not uniform in the market. So imagine you wanna buy a public stock, you can go on your Fidelity account, go on your Schwab, your Robinhood, you look up the ticker, it spits out a price for you, and you can go set an order for that stock, right? In the private markets, people don't always realize from the outside. If you have 10 sellers for a certain company, they could theoretically all be selling at a different price and maybe through a different structure. So there's a lot more dynamics. There's, supply demand dynamics. There's also, sourcing dynamics. So you can't just go to an app and find your seller. You have to actually go out there in the marketplace with different relationships and go find your seller.'Cause your seller could be an employee of that private company sitting in California. Your seller could be a venture capital fund sitting in New York, or your seller, even of a US stock, could be a family office sitting in Indonesia. There's so many disparate sources, where. Where your seller could be because there's so many different types of shareholder that has that stock and you can't centralize it very easily. investors new to this market need to be very careful Especially if you've got a grueling full-time career, how do you have the time to build that network, to have good access in this market when it's so spread out, so fragmented, so hard to assess, even if you hear about an offer in one of these companies. How do you know if that offer you see on a crowdfunding platform or somewhere else is at the low end of the price range for that security high end. Somewhere in between. Is that structure reasonable for that asset or way more complicated than it needs to be? It's very hard for someone that has a full-time job, isn't in this industry every day, to have that context, individual investors, especially those that don't work in these investments every day, are the most vulnerable to overpaying or getting into the wrong structure or business with the wrong manager, without that context And so that's where sometimes you get what you pay for. That's another quote. Because when you can enlist. specialty broker like myself that works in these markets. we can help you negotiate to lower fees spot when a price offered is higher than it should be, or understand the nuances of the deal, the pressure points that we can optimize for you It's like going into a negotiation by yourself. Versus going into negotiation, armed with information and context and experience and relationships to know where we can improve. that's the best tool you have when going into these deals that can be so variable and have such broad outcomes. Yeah, really good information, because that is one of the things that we do as real estate syndicators, right? we partner with the best in class operators. the way we do that is by understanding their business structure, understand the second and third order effect of a number of change within their underwriting model. To be able to effectively analyze the information that they're pushing to investors. To where whenever we create a SPV right, we can say to our investor that this projection is based on, effective market research. Right? And even though we can guarantee return, however, we have done enough research to say, based on historical performance of this market. And also the track record of this, operator and their vertically integrated system where they control acquisition, they control, the property management, construction management amongst other things inside a company. And they have the assets within the area. We are confident that the projection are, is, are good or at least close to what the pro the property will perform, you know? So it sounds like that's where you come in as a broker in the real estate space, we are looking at multiple factors, right? we are doing market research. We're looking at price performance of that assets. we are looking at the operators who have managed and operate and exit comp comparable properties. What are some of those things that you are underwriting as a broker, to be able to educate an investor on a good business decision or investment decision. Absolutely. So as a broker, yeah. The financial regulators don't let me advise gi give my That's good. Okay. Opinion as to, you should buy this, you should not buy that. This is a good deal. This is not a good deal. So I shy away from that language. clients typically come to me with a shortlist of companies they might be interested in. And where I come in is a few things. Number one, sourcing. So I'll go out there to my network, or proactively and source a variety of different offers in that company you're looking for. So we can compare structures, pricing, minimums, things like that. And have offers to look at. Number two is to help you negotiate against your seller and advocate for a lower minimum, a longer timeframe to close if you need that based on your situation. Negotiate pricing and fees I can be really valuable in the negotiation. Streamline the process to explain the different structures to you, explain, the market movements in the stock that you're looking at, and explain the whole process and try and streamline it Through closing so that it's really smooth and easy for you. I always say I'm not a fundamentals expert in my current role. What I'm an expert at is the movements of the market, the structures of the market, and how to actually put that into play in a negotiation for transaction. That's what I love to do and that's where I can add a lot of value. And you said something earlier too that got my wheels turning. Because when I think about, investing in a company like SpaceX in the private markets, I'm thinking, I am investing with Elon Musk. But it sounds like, maybe in the early developments of that company, you have investors that went in on the ground level, initial investors, and as the company grow, those folks are selling that those interests and those are the interests that other private investors are buying. Am I getting it right? That's a very common case. a lot of companies in the high tech space are staying private companies longer than ever. Even when in some cases they're$1 billion,$10 billion, a hundred billion dollars or more they probably could go public. But they're choosing not to because they maybe don't need to, or they would rather stay private, have full control, and not worry about the public markets, not have to worry about quarterly disclosures. So when you have companies staying private, delaying that IPO longer than ever in the past, that's more and more value creation Kept out of everyday investors' hands SpaceX just hit 400 billion in valuation. In today's world, OpenAI just hit 500 billion. It's crazy in today's world that you could be a half trillion dollar company and not be available to everyday public market investors to buy on a normal public brokerage account. And so it is his, it has historically been these family offices, billionaires, venture capitalists that have bought into these. Rounds directly with Elon or directly with SpaceX, A lot of them are now starting to sell because they've been waiting for IPO so long and it doesn't always mean you don't believe in the company anymore. A lot of times people selling these high tech stocks, still believe in the company. They need a little bit of cash for whatever reason It could be an employee of the company trying to start a new business, put their kids through college, buy a house, and they may be very bullish about the prospects of the company whose shares they hold. But that doesn't take away from their need to have some cash to fund their lifestyle or business goals. And so people often stay very optimistic, but they sell a little bit along the way. Especially if it's been 15 years and there's still no IPO. And so you see really interesting dynamics come up lately in this environment for that reason. Got you. What are the typical minimum for an investor to be able to opt into a private, company. What's cool about how deals are getting done these days is If you wanted to go invest directly with SpaceX, directly with Elon or directly with one of these high tech companies, by going into what they call primary rounds, basically their VC funding rounds, that's where you typically have to. Be an institution or act a lot like once. So you might need to put in a$5 million,$10 million,$20 million check in some cases to get direct access to those rounds. But sometimes you can find, syndicates, SPVs, or other structures. a venture capitalist that got shares in an early round now needs some liquidity and is able to offer that stake through an SPV structure to new LPs, and that's when you can get much lower minimums compared to if you were just going directly. So instead of maybe 5 million, in a hypothetical, maybe you can invest a hundred thousand dollars. For the work that I do, often we deal with at least a$50,000, if not a hundred thousand dollars minimum. So it's still pretty high, for some individual investors, but it's a lot lower than the default, which is where these venture capitalists are coming in. Makes sense. And I think over time with, Expansions in, regulatory frameworks, in operational efficiencies. Hopefully we can get those minimums even lower. But for now, the access point tends to be around a hundred k. that makes sense. Think that's fair. Now I'm gonna ask you a very question that this kind of nuance, right? You know, our audience knows, military syndication, they understand GP LP structure, equity side cashflow and depreciation what's a direct comparison? you would say, to a pre IPO deal? you mentioned the SPV structure sometimes, and you talk about long term hold, we're just now talking about, the liquidity, right? In real estate, one of the things we focus on is equity multiple. how should a real estate investor that is listening to this show, think about allocating a percentage of their investment into these kind of portfolio? Yeah, I would say it looks very different from real estate, at least. Most of the real estate deals I've heard about and seen. A lot of the real estate investors I know are looking for cash flow or other aspects. Even some stock investors might be looking for dividends or some sort of income generating aspects to what they're investing in. That's very different from these private stocks. Most of these private companies, even when they're extremely large, do not issue dividends. And so for that and other reasons, it looks like less of an income generating asset. It's more of an asset that you're hoping grows in value over time to sell down the road. More like a buy low, sell high. So you're really hoping that the price per share that you enter into a deal at. We'll be much, much higher by the time later you sell. That's the goal. You're going for growth rather than income. That's a huge thing to be aware of. Now, in terms of parallels, I don't know that there are great parallels for this industry because it's a subset of venture capital. You might call this pre IPO, invest. Ultra late stage venture capital, but at the same time, don't confuse it. it's not like Dragons Den or Shark Tank, it's really not like early stage venture capital. it has a completely different risk reward profile as well. If you're a venture capitalist, the majority of companies you invest in are going to fail, and you're looking for the one that might succeed and pay back everything you've invested in the whole Portfolio. That's the typical VC mindset There's still risks. Several of these companies could fail or not do as well, but you're drawn to this late stage because these companies have much more maturity like SpaceX, which is 400 billion, or OpenAI, which is 500 billion they don't really look like those early stage startups for example, Stripe. Has exceeded. A trillion dollars in payments volume. We're talking big numbers in terms of revenues and the scale of these businesses. it's hard to compare to another asset class. It's kind of quirky and different and I think that's why so many investors are drawn to it.'Cause it doesn't really look like early stage startup investing. But you're still getting in while it's private, Before the IPO. in some cases it feels like a sweet spot between private and public. Most of the investors I talk to, they want to know, when will they get their money back, and also how do they get paid and how they get their money back and stuff like that. Right? A lot of time our syndication is anywhere between three to five years. what is typically the whole time for investing in a startup? It's a great question. it's an answer that investors should be aware of if they're interested in this type of deal. These assets are considered illiquid, so you have to go in expecting to hold for potentially a long time. The regulations actually were. Acquire investors to enter with the intent to be a long-term holder. Gotcha. So at a bare minimum, if the company's still private, that means you're holding for at least six months, ideally longer before you even consider maybe selling out of your position to another private buyer. There's two ways that you might get your money back. One is if the company exits. So that could be if there's an IPO or, an acquisition, maybe that company gets acquired, you could get a cash out or shares of a public company, the other potential exit is if that company is still private. And haven't done their IPO yet. Might not do the IPO for a while, but you're able to arrange a private deal to actually resell in future. Those are probably the most common exit avenues, but none of those are guaranteed. It depends on the market, it depends on when that IPO comes, if at all. So you gotta prepare to hold for a long time until one of those exit events is able to come to fruition. You gotta expect that illiquidity. and that's a main feature of this type of investment, But of course, there's different things we can do. If you come to me as a broker, you've held your stock for a few years and you wanna sell, we can look at the market and try Try and help you find a buyer as much as possible at that time. Yeah, that is pretty cool, man. And that's why a lot of folks choose to work with, professionals, right? They, set up their, they know what a financial trajectory like look like. They know what the income look like, and they know how they want to invest and what the exit plan should look like. So these different stages in their life they would need some liquidity. speaking with somebody like yourself, if they want to invest in a private, large company is, helps them to get in, but also help them to get out, to meet their, their, their risk capacity and their investment goals. You know, that's pretty cool. do you care to talk, just to build the expectation for investors, right? Or deeper understanding for investors, a lot of the things that benefits investors are things like tax benefits. We use that cost segregation. I'm seeing here in my notes about a qualified small business stock, is that a tax benefit that our investors should understand and compare and contrast between real estate syndication versus investing in a private business? I'm no real estate expert, but I understand that some real estate investors, might be looking for tax write offs, depreciation certainly comes up a lot. Tax benefits don't tend to be a main feature of this type of investment. There can be certain tax quirks, which can be interesting. mainly they come in on the seller side, I would say. for example, there's a tax thing, where for some companies, if someone invested or got stock really early before that company had any kind of real financials or growth and then held for a long time, they might be able to sell some of that stock tax free. Which is really cool as an incentive in the economy to backing innovation in small companies, but not on the investor side, not so much. So the type of investor that's looking for this type of stock is not so much looking for the tax benefits the write offs, the depreciation, the income, it's really just growth oriented. So that's something to keep in mind. The investor looking for a financial stake in these companies, while they have a professional career in some other fields, they're fascinated by these developments that they might see in the news. Maybe they use chat GPT every day and they're thinking. AI is the future. How do I get involved in this from a financial standpoint? Or they're seeing, Elon Musk, the landings of the spaceships of SpaceX in the news and thinking, well, this is the future. I wanna be able to financially back something like this in the space sector or, find a way into SpaceX itself. So people are frustrated with being bystanders and seeing this cool stuff be created. Especially if they've worked so hard to build some wealth and they're still unable to invest in that company saying, wait, I've worked so hard. Why am I not allowed to have that opportunity? People get really excited to find out there's a way, but of course it's very, it's very different than real estate's, very different than other types of investing. So while there is a way, you've gotta be as aware as possible going into it, but it can be really, really exciting to get investors access. Man. That is a perfect segue for my next question. as we go towards the end of this podcast, I would like to hear a five step process for, accredited investors, because I think you only invest with accredited investors, right? yes, you have to be accredited. Ask me the credit, right? So foreign accredit investors listening to this podcast, and they're now curious what would be their naturally next step or the best next step and probably follow on five step to get into this deal, into a pre IPO company working with you. Well, first I'd say there's a bit of self-awareness. So what does my financial situation look like? what portion of my financial portfolio makes sense to allocate to something that could be high risk and have this type of profile. So that's gonna look different for everybody. It's typically a portion of your portfolio for high risk, for play money, for diversification. Okay? It's not, for most investors, it's not gonna be 80% of what you invest in. So look at your own financials. Also, look at your own goals, whether you're really gonna try and diversify. Are you gonna try and get into five to 10 different companies or more? Are you gonna try and go with a smaller number of investments where you have the most conviction? Some reflection can be helpful ahead of time as to what you actually want. Are you targeting SpaceX, OpenAI, or Stripe, or do you have a different strategy? that can be a great place to start is your cash liquid. Would you need to sell stocks to free up that money? Just knowing your own situation and timing can be great going in. The second step is a bit self-awareness focused as well, Do I have the contacts in my network where I can source a deal in this company, and even if I can't source a deal in this company, will I. Will I have the context? Will I have other offers to compare it to? you need that self-awareness to know if you have what it takes on your own or if you'd be better served by, soliciting the help of a professional like a pre IPO broker. If you wanna go with a pre IPO broker and work with someone like myself, we'll start with an introductory conversation so I can get all the details of what you're looking for and make sure everything's a good fit for you, then. I can go to my network and find you a match. If you are a hundred K investor, you're an individual, you're looking for, SpaceX or OpenAI you want hopefully to close in the next month. Those kind of details that allows me to look at my network, my resources and see who can accommodate an investor like yourself. At the a 100k level, we're probably going into an SPV. I can find the right offers that match and bring them to you to consider. Once we're looking at these offers, I can com I can keep explaining what are the structures, how is the pricing working, what are the fees, any other questions you have, and make sure you understand everything. So I'm very accessible, responsive, part of my brand versus competitors is that it's a personal service. You're gonna get to know me, I'm there to make sure you understand every step of the way. And we're gonna work through that together. Ultimately it's your, you make the decision of if you wanna move forward or not. I don't, I'm not a fiduciary. I don't advise you one way or the other. You collect all the data points and then you decide yes or no. If you decide yes, then we're gonna, complete due diligence. We're gonna get you. Signed in with that seller or with the company depending on the structure. And we're gonna work through the actual execution, so the wiring of the funds and things like that. Last step only. And only when the deal is fully, fully finished. That's when I would invoice you for my commission, which is typically a 5% upfront commission, which can scale down depending on the size of the deal. And I'll only ever invoice that when everything's fully tied up with the bow and we're closed. SPV takes some money to set up, right? and we just did one and we had to come up with capital upfront. That is factored into the overall return of the projected investment. But we are buying a tangible assets and we have some control of the performance of that assets, right? Going into a, a larger private company, we don't have that. Much control. Who covers the cost of setting up the SPV, and also additionally your fee just to be transparent. Absolutely. So the buyer should expect that they're paying my commission for the service of the sourcing, helping negotiate, et cetera. And that's one time upfront cash commission, and that's made very clear when presenting the overall offer. If there are any fees on the actual, asset that they're buying or an SPV subscription, that varies quite a lot too. Oftentimes that SPV manager will absorb the cost. Especially for a very large investment, 500 K, 1 million, 5 million. The SPV manager might pass that through. There are cases where maybe they're offering a lower minimum, like 50 K and they would pass through costs because they could still be incurring quite a lot of costs. Maybe they still have to get that audited and et cetera. So. Depending on size, depending on the style of the manager. Sometimes there may be cost of the actual investment or the vehicle passed through to the investor, sometimes not. When I go and source something and I'm speaking to that seller, I have that investor and their needs in mind when I'm speaking to them. So I'm asking questions like. Are there any upfront fees? Is there carried interest Are there any audit fees? the goal is that when I come to you and I say, look, I found an offer. I can hopefully have the full picture of all possible fees, costs, structure, considerations, and then we can pry further from there. Yeah, that makes sense, man. I appreciate you breaking that down. yeah, so, yeah, tons of information then that sound like it's a very nuanced process, right. If you're listening to this, and you have always wanted to not be left out Because we know there are people doing amazing things and a lot of times we want to join them, but we just don't know how. Christine is here to be that voice of reason or to help you get in, to be a part of those things that you have the burden and desire to be a part of. If you're listening, definitely reach out and we get our contact information shortly after the focus round. we're gonna go through the focus round, Christine, and it is an acronym, five acronyms, of focus, right? What do you do for fun? It could be fast, quick answer, or a little bit longer answer. Standup comedy. Oh, you're a comedian. I love to watch it. very rarely I'll do an open mic or some sort of performance, but I'm just a fan of comedy all around. We should make the other, the remainder of this focus run as comedic as heck. All right. You know what? It's different worlds though. It's like a different part of my brain. We've got this investment analytical stuff, and then we've got the unhinged comedic brain. Unhinged be funny. Okay. Let's see if we can get something here. If you don't, I'm cool with it as well What is the biggest investment opportunity? you almost passed on, but you didn't, oh God. So many because the winds in this market can be really exciting. I do remember I was almost an early adopter of Airbnb I started using it when it was still a bit sketchy when you'd go stay in, some person's house I kind of wish I was a teenager at the time. I wish that I had just gone to work for Airbnb and been part of the early building of that company. Wow. The employees that were part of that, maybe first, I don't know, a hundred employees, did incredibly well from their stock packages. It was common to see these employees with$10 million, maybe even more in some cases because they picked an amazing company and they got in early. So every now and then I'll see some trend. I'm like, that's really cool, and maybe I'll start off as a user. I should have really pushed to be part of that seed round, or to get employee equity in that company. So that's one that stands out to me because I found that I was Airbnb before it was cool. I remember that. Yeah. you touch on something that is really important because I think most people when they go work for a company, they're focused on their income budget. You mentioned this could be a paradigm shift for an investor. Listen to this, or maybe for a transition veteran, listen to this. You are talking about working for a startup company and being an employee. However, you are also a part of the initial ownership. Am I hearing that right? Absolutely. a lot of times in these early stage startups, maybe they aren't producing all this revenue yet, right? They might not be able to pay you a market salary, so they compensate you with equity packages. But here's the thing, some companies are very strict. Maybe they don't let you sell your shares, Airbnb was actually a company that was really strict and wouldn't like their, employees to be able to sell their shares before the IPO. And you can have other companies, like discord, which is more open in letting employees sell their shares. When you go into a situation where you've accepted less salary because you're getting shares, it can be really helpful to talk to a broker and figure out. Hey, is there a market for this company? Yeah. do you have buyers right now for this company or for a company like this? How likely is it that I might be able to sell? Because if you think maybe you're getting a hundred thousand dollars worth of stock. There's a big difference between a hundred thousand dollars worth of stock that maybe you can sell a year from now and a hundred thousand dollars of stock where the company will never let you sell until that IPO. And you might be locked in for 15 years. In so many different cases, whether you're selling or buying, if you talk to a broker like me, my passion is to help arm people with information so they can make informed decisions about their financial future. I believe that this type of information shouldn't be gate kept. people should be able to get more access to these deals as investors. I also believe that sellers and employees should have better access to the markets in terms of being able to sell or find a buyer. At different steps in the journey, I'm gonna give you as much information as possible. So if you're gonna go work for a startup, you're not going in blind. And you actually know how the equity you're getting is gonna work. That is pretty cool because when you think about a transition veteran, they are, especially if they've done 20 years, they now probably have structured their life to where they can live off one income or maybe their retirement and their spouse's income. If they have a spouse and if they go to work for A IPO, that's not cash flow and it does not have this big payday, this great income. To pay them on a monthly basis, then, they get at least the ownership and they can have this sticktuitiveness to see those times where that, company would go. IPO. So, this really cool paradigm shift and if you listen to this podcast all the way to the end, start thinking about, the ways that you can maximize your earnings, if you can work for a company and also have ownership, you're double dipping. And that's good. That's a good thing in the civilian world. Christine, how do you explain complex ideas or complex deals simply, to busy investors? Communications, having obsession. I'm obsessed with the work I do. I think about it all the time, even when I should probably switch off my brain. So just seeing so much of it, but also having a passion for my clients. I don't want them to be intimidated by this market. I want them to really understand, and so that's my commitment. If I explain it to you one way and it's not catching on, I'll explain it to you a different way and spend that time with you that you need to feel comfortable. we've gone into a lot of different details and complexities for sure. It can be a very complex. asset class, especially if you haven't put in the 10,000 hours, to master a new area. But it doesn't have to be intimidating, it doesn't have to be complex. You really just need the right support. And so my commitment and what I'm trying to build in my small business is that premier service and that commitment to my clients. That they know they're dealing with someone that respects them, that's gonna take the time to explain things, but also has close to a decade of experience and the institutional caliber of deal flow and experience to back up what I'm telling them. That's pretty cool. Thank you so much for that because it's definitely, a lot of complex information, a lot of learning, you know, so be able to have the patient and the knowledge to be able to explain to investors so they can make the decision, does this meet my risk tolerance, my risk capacity? Do I understand this product enough? and it's risk associated with it to invest. What is one thing you wish you understood earlier about, pre-IPO investing? Or it could be you wish that investors understood. I think a lot of people, especially when faced with a new type of investing, they default to working with one of these big companies, big platforms. Okay. And I think that's a mistake because you can work with someone like me I'll give you total access to me. Every single deal that comes through my company, I handle myself from start to finish. So the person you hear on this podcast, the person in the marketing materials, I'm the one doing your deals. when you get to know me, when you get to trust me, I'm also there on the backend, helping with these deals for you. Once you trust me and trust my process, you're gonna get that every single time. Whereas if you go to one of these big companies where they might have 300 employees, half of them maybe got hired one year ago and they're brand new to this market, or right. Can be very hit or miss in terms of quality. A lot of these big companies are, racing to become giants. They're trying to be a$10 billion company. And as we know when a company scales, it could be hard to keep that same level of quality or focus that you had when you were small. So these big pre IPO companies are saying we are huge. We have 500,000 clients. If you're a client, do you wanna be one of half a million clients, or do you wanna be part of a small business that's very focused, very specialized, and committed to serving you really well and with care? So I think there's this, Phenomenon where sometimes when people enter this industry, they think, oh, I'll just go with the default guy. But sometimes you can get better service or a better result if you look to more of a specialist outside of just the flashy ones. Maybe there's someone that could actually serve your needs a lot better and get you a better outcome. Man, I tell you. I totally understand that. so last question, part of the focus round. What do you attribute to your ability to thrive, in such a high stake space? I love that. I'm a very obsessive person and I genuinely love what I do. I find it really fun. I really love my clients and serving my clients, genuinely enjoying what I'm doing, but also having a lot of drive and experience and a detail oriented mindset enables me to catch things that maybe someone else wouldn't catch. To think of ideas or think of potential sellers or potential buyers to match my clients that maybe someone else wouldn't think to look for. I got you, man. Christine, thank you so much, For credit investors who are listening to this podcast right now who want to compliment their multifamily investment holdings, with access to either, big tech unicorn or potential unicorn company, how can they connect with you and get involved with the next deal? Yeah, so there's two profiles. Maybe someone has been sitting and thinking, I wanna get involved in that tech company, SpaceX or Stripe, or OpenAI. You might already have an idea of what you wanna invest in and you've just been waiting for that person to help get you there. You can DM me on LinkedIn and I'll give you information about, how to contact me. We can have a one-on-one discussion. Okay. There's also, people that. I really, really curious, but. Still wanna learn more. And in that situation, you can go on my website, HealypreIPO.com, H-E-A-L-E-Y, pre ipo.com, and sign up for my mailing list you can get a feel for how I talk about these opportunities and just read a bit more. So depends on your style. You want a one-on-one conversation with me? Let's go and let's do that right away. I can talk to you for sure and if you wanna just, read a bit more about it, get your bearings first, then you can sign up to my mailing list and I'd love to have you there. Listeners. Thank you so much for listening to another episode of the Multifamily Real Estate, experimental podcast. as you can see, we're not just talking about real estate because one of the things or goal in helping you own more of America is the expansion of your thinking, your mindset of what is possible. Especially if you're a transitioning veteran, you have a lot of things in your mind. Even if you're transitioning between careers, you have a lot of things on your mind and it's really important for you to understand that there's other opportunities, than just get back into another, another employment and just grind. Right? so you can start focused on the different freedoms, and they say money's not. Came by you. Happiness. But one, you never seen a sad person on a jet ski. Right? And the more money you have, it's gonna provide you freedom. And even if you a sad person all the time, wouldn't you wanna be sad and have money? I mean, what's worse broken? Don't even broken. Be sad now. So let's focus on owning more for America. Christine, I really appreciate you, coming on this podcast episode even though it's more real estate focus, but helping us to understand, different ways of what we can own more of America. Thanks so much for having me. For listeners, thank you for choosing the Multifamily Real Estate Experiment podcast as your commute education. I like to call it Automobile University, or you could be going on a daily walk. So thank you for spending time with us today. until next time, I'm Hutch the Marine Investor out.